Which is the best way to sell my Diamond?

[Jerry Cohen]

Hi Everyone,
My wife has a 1.21ct Round Brilliant diamond she has been wanting to sell. it has a GIA Certification (all details below ~~). my question is how much can she expect to be paid for it, and where would be the best place to sell it? thank you!
Jerry

1.21 ct, Round, good polish, good sym., Medium Blue fluorescence, table 61% depth 59.7%

 

[Rockdiamond]

HI Jerry,
A stone being sold by a dealer comes with a lot of things a private individual can't offer. Money back guarantees, trade up policies, well earned reputation of successful dealers means the exact same stone is simply worth more in the hands of an established dealer.
Think about the difference between a certified pre-owned BMW, versus one being sold by a private individual.

Another fact of life is that dealers that buy diamonds from individuals only do so if the price is substantially less than they need to pay their normal wholesale sources.

Bottom line- you'll do best if you can sell it privately.
Or possible a trade to a dealer where it's used against the purchase of another diamond.

From the specs you posted, it sounds like it's an older GIA report- lacking the (essential) cut grade.
To see the general prices dealers are charging for stones with the same grade use the PS database diamond list.

 

[starryeyed]

Hi JerryCohen.

Thanks for posting!

Have you sold stuff before on eBay? If you have an established record, perhaps eBay is an option.

If you sell it to a dealer I believe you are currently looking at 40-60% of Rap (I'm not in the business - just went through the exercise myself recently).

If you consign, you can expect to pay anywhere from 15% to 40% of the purchase price to the dealer.

 

[Jerry Cohen]

Thank you so much for your help! the eBay idea sounds good actually - I am just afraid since I don't have an established seller's account people might not want to spend this kind of money with me... definitely something to look into though. thanks again!
Jerry

 

[Rockdiamond]

eBay might be the best route Jerry- but please be careful as there are quite a few scams - bogus credit cards, etc.....

 

[JessLeigh]

IDoNowIDont.com is a good resource too. They hold the buyers money in escrow while they verify the stone. And, you don't need an established account.

 

[MichelleCarmen]

diamondbistro. They do not charge. You only pay if you use pay pal.

Selling may require some patience as some stuff sits there for awhile. You'll probably finding you'll have to negotiate on price.

(I sold a piece there - got 15% less than what I paid for the diamond but the overall loss was greater only because it was set into a gold setting and including that, I got 60% back on purchase price)

On CL I sold a pair of earrings and got about 40% back.

I'm hoping to use the $ in the future to buy a pair of bezel studs from WF or BG!

 

[denverappraiser]

I wrote an article about this topic that's in the articles section at the top of the page. You might find it helpful.

 

[PCMusicGuy]

I've just went through this exercise. I tried selling locally on craiglist for about 9 months. Got many bites and only 1 serious offer that backed out. From all of my research, between 40-60% is normal for return on your investment. I eventually sold my ring/diamond outright to a place here in Houston for roughly 55%. I was actually in the market for another diamond but he didn't have anything that interested me. I would have gotten over 60% easily if I were to have been buying another diamond that day.